PRESS RELEASE
Decisions by the Supervisory Council of the Bank of Albania, 9 November 2016

On 9 November 2016, the Supervisory Council of the Bank of Albania, in addition to the decision to leave the policy rate unchanged at 1.25%, reviewed and decided to:

• Approve the reminting of the 20 LEKE coin, legal tender

The decision aims at meeting the demand of the economy for currency, in terms of value and structure, and ensuring a regular supply with these coins over several years.

• Approve amendments to a package of by-laws on asset management at the Bank of Albania

The amendments to the by-laws on the management of assets at the Bank of Albania have revised the relevant processes throughout the phases, starting with their entry, inventorying, write off and destruction, as well as indemnification procedure. The comprehensive revision aimed at improving and completing each process both separately and in alignment to each other. They also address issues identified from the day to day practice, in order to prevent loopholes or ambiguities that may arise during their implementation.

• Approve amendments to the regulation "On licencing and the activity of non-bank financial institutions" and regulation "On electronic payment instruments"

The amendments aim at a partial revision to the licencing and supervisory regulatory framework of electronic money institutions, in line with the European Union directives that regulate the payment systems and the activity of these institutions.

• Grant the preliminary approval to Banka Societe Generale Albania sh.a. for conducting an additional financial activity.

According to this approval, Societe Generale Albania may conduct the additional financial activity of intermediation in insurance and reinsurance, hence operating as an insurance agent.

The Supervisory Council was also informed on the daily functional and operational activities of the Bank of Albania.